You are here: Home - Specialist Lending - Bridging -

LendInvest splits bridging loans into three pricing tiers

by:
  • 02/06/2016
  • 0
LendInvest splits bridging loans into three pricing tiers
Specialist lender LendInvest has updated its pricing by splitting its bridging loans into three tiers with the aim of attracting more brokers and their clients.

The loans will now be ranked under Residential Bridging Tier One, Residential Bridging Tier Two and Commercial Bridging.

Rates for loans in Tier One will range from 0.65% to 0.95% per month at a maximum loan-to-value (LTV) of 75%.

Residential cases that fall outside of this criteria, such as Houses of Multiple Occupation, heavy refurbishments and second charge loans, will fall within Tier 2, which will be charged at between 0.99% and 1.25% on the maximum LTV of 75%, depending on the security provided and the status of the borrower.

Commercial bridging loans, which are available on semi-commercial, commercial and land transactions, will fall under a separate pricing structure. Rates begin at 0.8% for semi-commercial loans, and 1% for commercial loans and loans against land.

Matthew Tooth, head of distribution at LendInvest, said: “LendInvest enjoys the most diverse capital base in the specialist lending market. Because of our varied sources of funding, we are in a strong position to offer a more competitive, granular product range, which we are sure will be even more compelling for brokers and their clients.”

In April, LendInvest secured a new warehouse facility from global financial services provider Macquarie, worth an initial £40m. It also recently scrapped the exit fee on development finance deals.

There are 0 Comment(s)

You may also be interested in